Bill > SB2878

This bill allows qualified heavy equipment rental businesses in Mississippi to charge customers a "recovery fee" of up to 2% of the rental charge for each piece of heavy equipment rented in the state. This fee is intended to help these businesses cover the costs of ad valorem taxes, which are property taxes levied on their heavy equipment. If the collected recovery fees exceed the amount of ad valorem taxes owed in a given year, the excess can be carried over and applied to taxes in future years. The bill defines "heavy equipment property" as tangible personal property used for construction, earthmoving, or industrial operations that is owned for rental purposes, and clarifies what constitutes a "rental charge" by excluding separate fees like delivery or damage waivers. This provision aims to provide financial relief to heavy equipment rental businesses by allowing them to recoup property tax expenses from renters, without exempting the equipment from taxation itself.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2878.xml